BANKING & PERFORMANCE : Abakal Mahamat, the Man who Turned BGFIBank Cameroon into one of CEMAC’s Financial Powerhouses in Seven Years

The evening Douala celebrated the rise of BGFIBank Cameroon

At Castel Hall in Douala, conversations move between finance, strategy and economic outlooks. Around tables arranged for the fifteenth anniversary of BGFIBank Cameroun, Cameroon’s economic elite exchange under the subdued lights of a carefully orchestrated evening. Senior government officials, business executives, institutional partners and banking figures are all present. Yet behind the official speeches and protocol sequences, one reality quietly stands out : the upward trajectory of BGFIBank Cameroon bears the strong imprint of one man — Abakal Mahamat.

Within financial circles in Douala and Libreville, the executive has built a reputation over the years as a methodical manager, rarely exposed in the media but highly attentive to financial balance. A profile that contrasts with the more outspoken personalities often seen in regional banking.

The man behind financial discipline

When Abakal Mahamat took over BGFIBank Cameroon in October 2019, the context was far from simple. Cameroon’s banking sector was undergoing major restructuring, driven by COBAC’s regulatory pressure, accelerating digitalisation and increasingly aggressive competition among pan-African banks, international subsidiaries and local institutions.

Even within the BGFI Group, expectations were high. The Cameroonian subsidiary was expected to become one of the group’s main growth drivers within the CEMAC zone. Performance quickly became the ultimate measure of credibility.

Within just a few years, the figures shifted dramatically. Between 2019 and 2025, net profit reportedly rose from around CFA francs 3 billion to nearly CFA francs 15 billion, while total assets exceeded CFA francs 700 billion, according to figures released during the bank’s fifteenth anniversary celebrations.

This growth was built on a strategy focused on risk management, corporate banking expansion and the strengthening of structured financing operations. In a banking environment still affected by non-performing loans and liquidity tensions, prudence became a competitive advantage.

A bank entering a new dimension

Under the leadership of Abakal Mahamat, BGFIBank Cameroun gradually strengthened its presence in sectors considered strategic for Cameroon’s economy : energy, infrastructure, telecommunications, logistics and agro-industry.

The institution also increased its capital base to CFA francs 50 billion in order to support its growth ambitions and comply with new prudential requirements imposed across the sub-region.

But the transformation has not been limited to financial indicators alone. Internally, several observers point to a gradual reorganisation of working methods, with stronger emphasis placed on operational discipline, monitoring of commitments and performance culture.

In a market where banks now seek to combine commercial proximity with financial sophistication, BGFIBank Cameroon is attempting to reposition itself as an institution capable of supporting both large corporations and well-structured SMEs.

The discreet bet on sustainable profitability

Unlike some expansion-driven strategies seen elsewhere in African banking, Abakal Mahamat has favoured gradual growth. Few spectacular declarations, few headline-grabbing announcements, but constant attention to fundamentals : portfolio quality, profitability, solvency and governance.

This approach has reassured shareholders. For the 2025 financial year, the bank plans to distribute dividends estimated at nearly CFA francs 12 billion, reflecting the financial strength achieved by the Cameroonian subsidiary.

Within regional financial circles, this stability is viewed as a major advantage at a time when several African economies remain exposed to commodity price fluctuations, imported inflation and monetary pressures.

Preparing for the post-2026 era

As BGFIBank Cameroun consolidates its position within Cameroon’s banking landscape, the challenges are evolving in scale. The sector’s digital transformation, the rise of fintechs, new cybersecurity requirements and Africa’s massive financing needs are now forcing banks to rethink their business models.

Against this backdrop, Abakal Mahamat appears to already be pursuing a broader ambition : transforming BGFIBank Cameroon from simply a high-performing subsidiary into a leading financial platform for Central Africa.

As the applause gradually fades at the end of the anniversary evening in Douala, another question is already circulating within CEMAC’s economic circles : how far can BGFIBank Cameroon go under the Abakal Mahamat era ?

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Tressy CHOUENTE

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